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Is an Adjustable-rate Mortgage the Cure for Today’s Homebuyer Blues?

Is an Adjustable-rate Mortgage the Cure for Today’s Homebuyer Blues?

The recent announcement from the Federal Reserve that they raised The Fed Fund Rate by 25 basis points has been part of what refueled borrowers’ interest in adjustable-rate mortgages (ARMs), along with the rising mortgage rate environment. The volume of ARM mortgage applications increased for the third straight week last week, according to the Mortgage …

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Hottest US Housing Markets Shift from Traditional to Surprising

Hottest US Housing Markets Shift from Traditional to Surprising

A lot of things are different in 2023, including the traditionally hot housing markets. Los Angeles, New York and San Francisco are no longer atop the “hottest housing markets” list. According to recent data from Realtor.com, the hottest markets have shifted into a whole new category – suburbia. Suburban communities are leading with home sales …

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Are Home Seller Concessions Artificially Boosting Home Prices?

Do home sales appear more stable than they really are? Home sale concessions are a powerful tool in the arsenal of the home seller. This tactic is frequently used during a “buyers’ market.” More recently, many home sale transactions have started to include “goodies” offered by the seller to sweeten the deal for the homebuyer. …

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Car Payments, Delinquencies and the Housing Market Blog Hero Image

Car Payments Keep Soaring, Taking an Even Bigger Bite Out of Prospective Homebuyer DTI

Down payments for new and used cars are higher than ever as car loan delinquencies rise Several months ago, OpenClose™ posted a blog that detailed how soaring car payments could impact a borrower’s ability to qualify for a mortgage or access funds for a desired home at current prices. Now, continued interest rate hikes make …

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